for an electric vehicle (EV) is approximately $170/month for basic coverage, and $191/month for full coverage. Drivers with EVs tend to pay 25% more for car insurance than those with gas-powered vehicles—however, you can still find cheaper rates by comparing prices among providers.

The best companies for electric car insurance

Nearly all major insurance companies, such as

USAA

State Farm

, and

GEICO

, offer EV coverage. If you want to stay with your current company, odds are they can help you get car insurance for electric cars.

However, switching has benefits, too. You might find a company with a cheaper premium or a green vehicle discount that your current provider doesn’t offer. Here are some of the average rates for electric car insurance with top providers in the nation.

Insurance company	Average coverage cost
State Auto	$137
Travelers	$140
Direct Auto	$159
Nationwide	$166
Safeco	$166
Progressive	$176
National General	$182
Allstate	$204
AAA	$222
Gainsco	$231

However, it’s important to remember, these are just average rates. Your premiums may change depending on your specific driver profile.

When shopping for EV car insurance, consider using the

Jerry

app. Start by creating your profile—then run customized quotes from dozens of providers at once. By tailoring your car insurance to your profile, you’ll be able to find the best rates for you and your vehicle, no matter its type.

Looking for cheaper rates for your electric vehicle?

Compare quotes from up to 55 providers to find the best EV rates.

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Learn more:

The best car insurance companies of 2023

Electric car insurance costs are higher than average

The average insurance cost for electric cars is $170 per month, or $2,041 per year for

minimum coverage

. For

full coverage

, most EV owners pay approximately $191 per month, or $2,290 per year. These rates average both electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEV).

Compared to auto insurance rates for gas powered vehicles, EV drivers tend to pay approximately 25% more for car insurance. This is partially because most EVs on the road today are new cars or newer luxury vehicles.1

However, it’s important to remember that your rate may differ from the average based on your personal driver profile and your insurance company. Here are the monthly average costs for popular EV models across the US.

EV model	Minimum coverage cost	Full coverage cost
Chevrolet Bolt EV	$83	$239
Nissan Leaf	$99	$274
Volkswagen ID.4	$102	$276
Hyundai IONIQ 5	$103	$368
Ford Mustang Mach-E	$112	$307
Tesla Model Y	$118	$343
Tesla Model 3	$117	$362
Tesla Model X	$128	$396
Kia EV6	$140	$396
Tesla Model S	$144	$422

Why is car insurance for electric cars so expensive?

Based on a recent Jerry study, approximately 49% of drivers were interested in purchasing an electric vehicle in 2023, resulting in a 10% increase from 2022. The reason for the switch was often cited as rising gas prices, however, a majority of respondents also noted concerns over the higher costs associated with EVs.2

So, what makes electric vehicles so expensive to own in comparison to their gas-powered counterparts? Jerry did the research, and here’s a video break down of what we found:

In summary, your EV costs may be higher for the following reasons:

Repair costs are higher for EVs: Although EVs have fewer moving parts than ICE (internal combustion engine) vehicles, EVs are trickier to repair when something goes wrong. A damaged electric car may require specialized components, trained technicians, and more labor hours.

Accident rates are higher for EVs: According to the Insurance Institute for Highway Safety, accident rates for EVs are slightly higher at 1.21 crashes per million miles versus 1.10 crashes per million miles for gas-powered cars.

Different models cost more to insure: Depending on which type of electric vehicle you choose, you could be facing higher car insurance costs. For example, Teslas and Rivians are typically 86% more expensive than other electric vehicles.

But it doesn’t mean they need to stay that way. With Jerry, you can offset the expense of owning an EV by shopping for cheaper premiums!

Find out the secret to lower electric vehicle premiums.

Compare quotes today

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Learn more:

Why is my car insurance so high?

Saving money on insuring EVs

Owning an electric vehicle doesn’t have to be expensive. Once you find the right provider, there are also additional ways to lower your insurance costs.

Look into car insurance discounts

Regardless of what type of vehicle you own,

car insurance discounts

are an excellent way to bring down your car insurance rates. Here are some of the best ones to help you save on premium costs:

Multi-car discount

: If you own more than one car and put both of them on the same policy, you can save up to 12% on your car insurance with

Progressive

New vehicle discount: Is your car a new vehicle? If so, you may qualify for up to 15% off your

GEICO

insurance premiums.

Good driver

/accident free: Drivers who remain accident free or keep violations off their record can earn savings with most providers, including

Nationwide

and

Allstate

Ask about EV rebates and incentives

Many states, including

Alabama

California

, and

Florida

, offer rebates and/or incentives for electric vehicle owners. These savings opportunities are put in place to push forward the transition to electric vehicles, while also helping drivers save on EV ownership costs.

Here’s a complete list of EV rates and incentives offered by state, based on information from the Kelley Blue Book. 3

State	Rebate or incentive	What it includes
Alabama	Rebate	Discounted time-of-use rate for those who lease or own an EV/plug-in hybrid
Arizona	Rebate/Incentive	Smart Charge Program: $250 rebate for purchasing a Level 2 EV charging station + $85 annual credit Salt River Project: $250 rebate for purchasing a Level 2 EV charging station + $50 credit for charging at certain times of day Tucson Electric Power: $500 rebate for purchasing a Level 2 EV charging station Mojave Electric Cooperative: $1,000 rebate for purchasing a networked Level 2 charging station
Arkansas	Rebate/Incentive	Entergy Electric eTech: $250 rebate for purchasing a Level 2 EV charging station Southwestern Electric Power Company: $250 rebate for ENERGY STAR-certified Level 2 EV charging station Carroll Electric Cooperative: $30 credit on power bill + $250 rebate for purchasing a Level 2 EV charging station
California	Rebate/Incentive	California offers several rebates and incentives through different programs, with some savings of up to $4,000+
Colorado	Rebates/Incentives	Vehicle Exchange Colorado: $6,000 credit toward purchasing an EV or PHEV Black Hills Energy: $500 rebate for installing a Level 2 EV charging station Gunnison County Electric Association: $1,250 rebate for those who sign up for time-of-use rates + 25% off the purchase of an EV up to $1,000 Holy Cross Energy: Gives up to 2 free Level 2 ChargePoint chargers San Isabel Electric Association: $500 rebate for those who purchase a qualified EV Xcel Energy: $5,500 rebate for drivers who lease/purchase a new EV + $50 bill credit for charging during off-peak hours
Connecticut	Rebate/Incentive	Up to $7,500 in rebates depending on whether you own a new/used EV, PHEV, or FCEV Eversource: $500 rebate for purchasing a Level 2 EV charging station + $200 for sign up Norwich Public Utilities: $5,000 incentive to install a qualified EV charging station United Illuminating: $1,000 rebate for installing a Level 2 EV charging station + $100 for establishing a charging schedule
Delaware	Rebate	$1,000-$2,500 for purchasing/leasing a new EV $100 bill credit rebate + $5 monthly bill credit for those who don’t charge their EV during peak hours
District of Columbia	Incentives	Tax credit for 50% of costs associated with installing a residential charging station
Florida	Rebate	Duke Energy: Monthly $10 bill credit for customers who charge their EV with a Level 2 charging station Jacksonville Electric Authority: Up to $300 for upgrading your home’s electrical system to support an EV charging station Kissimmee Utility Authority: $100 for EV drivers + $100 for installing a Level 2 charging station Orlando Utilities Commission: $200 for customers who purchase/lease a new EV + $50 for anyone test driving an EV
Georgia	Incentive	$250 incentive to install an ENERGY STAR-certified Level 2 charging station
Idaho	Incentive	All EVs and plug-in hybrids are exempt from state-required maintenance programs and inspections
Illinois	Rebate	$4,000 for vehicles purchased between July 2022 and June 2026 $2,000 for vehicles purchased between July 2026 and June 2027 $1,000 for vehicles purchased after July 2028
Indiana	Rebate/Incentive	Indiana Michigan Power: $500 for signing up, as long as you have a new or existing Level 2 charger Applied Energy Services: $250 + $50 per year for participation Duke Energy: Up to $200 in annual incentives for customers who charge during off-peak times
Iowa	Rebate	Residents must purchase/install a qualifying Level 2 charging station; amount not disclosed
Kansas	Rebate	Up to $2,400 per qualified vehicle $250 rebate for purchasing a Level 2 EV charger + $250 for signing up
Kentucky	N/A	N/A
Louisiana	Rebate	$250 for installing Level 2 EV chargers or ENERGY STAR-certified chargers
Maine	Rebate	Up to $7,500 for purchasing/leasing a new EV Up to $3,500 for plug-in hybrids* *Amounts vary depending on income
Maryland	Rebate/Incentive	$3,000 tax credit for customers who purchase/lease EVs under $50,000 Maryland Energy Administration: $700 for installing a qualified EV charging station Potomac Edison: Save up to 2 cents per kW hour + $300 for installing a Level 2 home charger Baltimore Gas and Electric Company: $50 annual credit for installing a Level 2 charger Pepco: $50 gift card for buying/installing a qualifying Level 2 EV charging station
Massachusetts	Rebate	Massachusetts Department of Energy Resources: $5,000 rebate for those who purchase/lease EVs Eversource: Monthly $10 discount for residents who charge during off-peak hours Braintree Electric Light Department: $250 discount for purchasing a qualified Level 2 EV charging station Home Energy Loss Prevention Services: Free and discounted Level 2 EV charging station National Grid: Up to $1,400 for installing a Level 2 EV charging station + $50 and $20 annual bill credit for pausing charging during peak hours Shrewsbury Electric and Cable Operations: $1,000 for purchasing a new or used EV
Michigan	Rebate/Incentives	Michigan residents can earn up to $1,000 for purchasing a networked Level 2 EV charging station and up to $1,500 for purchasing/leasing a new EV
Minnesota	Rebate/Incentive	Drivers in Minnesota can get a one-time E-ZPass account credit with a $250 incentive for EVs purchased between November 2019 and October 2025 Several other incentive programs off up to $500 for installing a Level 2 EV charging station and discounts of up to $250 on tolls
Mississippi	Rebate	Up to $1,250 for new/leased EVs $250 for installing Level 2 EV charger
Missouri	Rebate	Evergy: $500 to purchase/install a Level 2 EV charging station Kirkwood Electric: $300 for installing a Level 2 EV charging station
Montana	N/A	N/A
Nebraska	Rebate	Up to $500 for installing a qualifying Level 2 charging station Additional $500 to cover pre-wiring costs for installing a new EV charging station Additional $500 for wiring upgrades
Nevada	Rebate	$500 for installing a Level 2 charger (reduced to $250 for not installing)
New Hampshire	Rebate/Incentive	Up to $1,000 for purchasing/leasing a new EV $300 charger incentive for up to two installations per household $300 rebate for off-peak charging
New Jersey	Rebate/Incentive	Sales + tax exemption for new/leased zero-emission vehicles Charge Up New Jersey Program: Up to $4,000 for purchasing/leasing new EVs and plug-in hybrids PSE&G: Bill credit of up to $1,500 for installing a Level 2 EV charger Atlantic City Electric: Up to $1,000 for installing a Level 2 EV charging station
New Mexico	Rebate	Powering New Mexico: $500 credit for installing Level 2 EV charging station El Paso Electric: $500 rebate for installing Level 2 ENERGY STAR-certified EV charging station ($2,300 for low-income customers) Xcel Energy: $2,500 rebate for low-income customers + $500 for dedicated electrical circuits for Level 2 charging stations + $50 annual credit to charge during off-peak times
New York	Rebate	Up to $2,000 for purchasing/leasing new EV Central Hudson Gas & Electric: Discounts for charging during particular times of day ConEdison: $25 3-month bonus for each EV or charging station Orange & Rockland Utilities: Discount on electricity rates for off-peak charging National Grid: Time-of-use rate for those who lease/own an EV
North Carolina	Rebate	Up to $500 for drivers wh purchase a qualified Level 2 EV charging station with different programs
North Dakota	N/A	N/A
Ohio	Rebate	Up to $250 to purchase/install a Level 2 EV charging station
Oklahoma	Rebate	Oklahoma Electric Cooperative: $300 for owning an EV and having a Level 2 EV charging station to charge on off-peak hours Public Service Company of Oklahoma: $250 for installing an ENERGY STAR-certified Level 2 charging station
Oregon	Rebate/Incentive	Up to $1,000 in rebates and $5,000 in incentives for upgrading electrical panels and purchasing a Level 2 EV charging station Low-income families may qualify for up to $7,500 with the Clean Vehicle Rebate Program
Pennsylvania	Rebate	Pennsylvania Department of Environmental Protection: $2,000 on new/pre-owned EVs PECO: $50 for purchasing a qualifying EV Duquesne Light Company: $50 bill credit to purchase/lease an EV
Rhode Island	Rebate	Up to $1,500 to buy/lease an EV or plug-in hybrid
South Carolina	Rebate	Up to $250 to purchase qualified Level 2 EV charging station
South Dakota	Rebate	Up to $500 for customers installing an EV charger from approved vendors
Tennessee	Rebate	Up to $400 to purchase/install a Level 2 EV charging station
Texas	Rebate	Texas residents can earn up to $1,200 in rebates with specific programs to install a new Level 2 EV charging station Up to $2,500 for buying an EV
Utah	Rebate	Up to 75% of charger costs are covered when purchasing a Level 2 EV charger
Vermont	Incentive	Covers up to 25% of upfront costs for low-income families buying an EV, up to $5,000 Up to $4,000 for state residents who buy/lease a new EV Virginia residents may also qualify for several other rebate programs, including the Burlington Electric Department and Green Mountain Power
Virginia	Rebate	Dominon Energy: $40 annual payment for enrollment + installed and maintained Level 2 EV charging station for fixed monthly rate Appalachian Power Company: Time-of-use rate for those who own an EV Rappahannock Electric Cooperative: $7 monthly bill credit for enrolling in pilot program Danville Utilities: $200 for purchasing/installing a Level 2 EV charging station
Washington	Rebate	Until July 2025, residents pay no sales tax on the first $15,000 for EV purchases Used EV owners pay no tax for cars priced up to $16,000
West Virginia	Rebate	Up to $500 for purchasing/installing a Level 2 EV charging station
Wisconsin	Rebate	Wisconsin residents can earn up to $800 with specific programs for installing a Level 2 charging station; some may even provide free installation
Wyoming	Rebate	Up to $500 to purchase an install a Level 2 charging station

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Continuously shop for coverage

Even after you’ve found your ideal provider, it’s always important to keep shopping for better rates. Once renewal comes around, revisit the Jerry app, and see if any new savings opportunities appear. Who knows? You may find a cheaper rate with another provider, or even your same insurer!

Looking for cheaper than average EV insurance rates?

Compare quotes

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Tips for insuring an electric vehicle

All EV drivers are subject to their

state minimum requirements

which usually means

basic liability insurance coverage

, including bodily injury liability and property damage liability. Uninsured motorist coverage may be mandatory, too—it depends on where you live.

Some EV drivers may be required to carry

full coverage

(collision and comprehensive with an out-of-pocket deductible) if they’re financing or leasing an EV, at least until the loan is paid off. Here are some policy considerations and additional coverages that electric car owners should consider when buying insurance.

Coverage for EV parts: Batteries and regenerative braking systems are expensive, critical parts in electric vehicles. Make sure your policy covers damage or degradation, or ask about purchasing a special endorsement.

Repairs with EV technicians: After an accident, your vehicle may require specialized care from a trained technician. See if the company will cover repairs at a certified EV repair shop and if they’ll cover the cost of transporting your vehicle to that repair facility.

Higher liability limits: Your EV could cause more damage in an accident than a standard vehicle because EVs tend to be heavier than gas-powered cars. More damage means you might face higher claims, but increased liability rates (like 100/300/100) can help.

Charging station coverage: Whether you plan to use public or private charging stations, ask what kind of policy could protect against damage and liability. What if your wall charger is damaged? What if your vehicle damages the charging station? Speak with a home insurance provider if you have a home charging station about additional protection for events like vandalism, electrical surges, or fires.

Roadside assistance: EV owners have different needs, so standard

roadside assistance

programs may not work for you. To alleviate range anxiety, look for an EV-specific program that offers services like mobile charging, charging cable delivery, EV technician consultations, and real-time charging station location information.

It’s also worth checking into programs offered by the car’s manufacturer or your dealership. You could unlock special membership discounts, incentives, or programs tailored to your electric car.

Finally, warranties are very valuable—but insurance companies don’t sell you those, the manufacturer does. Battery, powertrain, and charging system warranties are well worth your consideration as an EV driver.

Electric car insurance doesn’t need to be expensive!

Find cheaper rates with Jerry from 55+ of the top providers in the nation

Compare quotes now

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5M+Drivers Joined

7M+Cars Garaged

FAQ

Is an electric car more expensive to insure?

Yes, electric vehicles are typically more expensive to insure than conventional gas-powered vehicles. Hybrid cars are usually the cheapest to insure, but plug-in hybrid electric vehicles can also cost less to cover. The exact rate of your EV car insurance will depend on the specific vehicle, your driver profile, and your provider.

What is the best car insurance for electric cars?

There isn’t a single company that consistently offers the best insurance rates for electric cars. Providers like

Allstate

and

State Farm

offer discounts for green vehicles and home charging stations that can help you save on your overall costs. But the best insurer for your EV insurance will depend on your coverage needs, driver profile, and vehicle.

What is the process for getting electric car insurance?

The process for purchasing electric car insurance is similar to the process for insuring a conventional vehicle.

Your first step should be deciding how much coverage you need for your electric car. Insurance experts typically recommend purchasing a

full coverage insurance policy

with

liability coverage

comprehensive insurance

, and

collision coverage

. Next, you’ll want to compare quotes from different providers and seek discounts for your electric vehicle or driver profile.

What are the benefits of an electric car?

Electric vehicles typically cost less to maintain, incur lower fuel costs, and tend to perform better than gas-powered vehicles. Additionally, many electric cars are eligible for federal tax credits or state rebates. Above all, electric vehicles release zero emissions and are better for the environment.

What is the difference between electric cars and gas-powered cars?

Gas-powered cars are more mechanically complex and require increased maintenance compared to electric cars. Additionally, EVs produce zero emissions, cost less to operate, and typically perform better due to instant torque. On the other hand, conventional vehicles usually have longer driving ranges than EVs and fueling options are currently more widely available.

Does insurance cover EV battery replacement?

Your EV battery will not be covered by comprehensive coverage. Some insurance providers may offer electric car battery replacement coverage for EVs, but this is not a standard coverage option from the average provider.

Can insurance go down when you buy an electric car?

In some cases, insurance can go down when you buy an electric vehicle. Electric vehicles typically cost more to insure than a gas-powered car, but it depends on the electric vehicle, the conventional vehicle, the policyholder, and the provider.

For example, a 30-year-old clean driver who currently drives and insures a 2008

Honda Civic

with low safety scores and minimal anti-theft devices may pay less to cover a brand new

Nissan Leaf

with higher safety ratings, a suite of driver assistance features, and anti-theft technology.

Does GEICO cover electric cars?

GEICO

offers insurance for electric cars. You can purchase a

GEICO

auto insurance policy for an EV and earn a green vehicle discount to help lower your rate.

Meet our experts

Bonnie Stinson

Bonnie Stinson is an insurance writer with 8+ years of experience as a content writer. They specialize in making complex topics like insurance and technology easy to understand. Bonnie has written over 1,300 articles to help people become confident car owners, from how to choose the right car and build a car insurance policy to dealing with stressful situations like car accidents and unexpected repairs.

Before joining Jerry’s editorial team, Bonnie worked as a digital media strategist and user experience researcher, producing content for Furnishr, STACKEDD Magazine, InfinityCore Health, and the global non-profit Giraffe Heroes.

Kianna Walpole

Expert Insurance Writer & Editor

Kianna Walpole is an insurance writer and editor with a comprehensive background in consumer behavior and online publishing. With experience in car insurance, maintenance, and repair, she is dedicated to building informative content that helps customers reduce costs while achieving the best service. Prior to joining the Jerry editorial team, Kianna worked as a junior editor in the content marketing industry, using consumer data and key insights to create and edit content for an array of large-scale clients in the real estate, cybersecurity, and healthcare industries.

SOURCES

https://www.experian.com/content/dam/noindex/na/us/automotive/auto-consumer-trends/q2-2023-experian-auto-consumer-trends.pdf

https://getjerry.com/newsroom/jerry-2023-state-of-the-american-driver-report-reveals-impact-of-rising-car

https://www.kbb.com/car-advice/electric-vehicle-rebates-by-state/